Mongolian AI Startup Secures $3.5 Million USD to Advance National AI Infrastructure and Digital Future

Egune AI, Mongolia’s first foundational artificial intelligence platform, has today, announced a $3.5 million USD equity investment from Golomt Bank, one of Mongolia’s largest commercial banks. The financing marks a critical moment in Mongolia’s digital evolution, enabling Egune AI to scale its technology, enhance service accessibility, and strengthen the country’s national AI infrastructure.

Egune AI was launched in 2022 with the goal of creating a super-intelligent digital assistant rooted in the Mongolian language, culture, and cognitive identity. This strategic investment from Golomt Bank has boosted Egune AI’s valuation to $38,5 million USD, making it the highest-valued tech company in the country and further establishing Mongolia’s role as a global player in responsible, culturally grounded AI innovation.

Since its launch, Mongolia has become the eighth country in the world to independently develop and train its own foundational AI model. In just under three years, Egune AI has trained more than 2,100 AI models, developed a suite of AI-powered tools, and reaches over 24,000 daily users, and now powers over  70 percent of the Mongolian AI market.

Egune AI is addressing the growing global disparities in AI development by creating a culturally grounded, nationally owned artificial intelligence system for Mongolia. In a world where AI is predominantly developed in English, Egune AI tackles the threat of language colonisation, ensuring that native languages and identities are preserved and empowered in the digital age. At the same time, it confronts the systemic inequality that prevents developing nations from accessing and benefiting from advanced AI technologies, offering a model for building cost-effective AI infrastructure with limited knowledge, experience and resources. By aligning AI with cultural heritage and national priorities, Egune AI promotes independent, inclusive, and equitable development, positioning Mongolia as a leader among emerging economies in the AI era.

For Golomt Bank, the investment represents a commitment to supporting homegrown innovation and advancing Mongolia’s position as a leader in ethical, culturally resonant artificial intelligence.

Commenting on the funding, Badral Sanlig, Founder and CEO of Egune AI, said:
“This investment is not just about technology, it is about national identity, dignity, and opportunity. We are building AI that understands Mongolian people, speaks our language, and reflects our way of thinking. Golomt Bank’s support brings us closer to realising our vision of AI that serves everyone, regardless of cultural and linguistic barriers.”

Also commenting on the investment Odonbaatar Amarzaya, CEO of Golomt Bank, added:
“Egune represents the kind of transformative, forward-looking innovation that can define Mongolia’s future. Supporting Egune AI is a contribution to digital sovereignty, national capacity-building, and social equity. We are proud to stand behind Egune AI and support the next phase of Mongolian innovation.”

Egune AI’s growth highlights Mongolia’s ability to lead in foundational technology, even with limited resources. Its collaborative approach, bridging government, academia, and the private sector, demonstrates the power of national alignment around a digital future. As AI continues to shape economies and societies worldwide, Egune is positioning Mongolia not just as a participant, but as a pioneer.